NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) earlier this week confirmed a large-scale gold-zinc-silver discovery from the first hole of its 2026 drilling program at the company’s 100%-owned Las Opeñas Gold Project in San Juan Province, Argentina.
Shares in the company surged in morning trade following the announcement, rising as high as A$0.031, representing an intraday gain of about 107% from the previous close of A$0.015.
Managing director Mark Purcell told Proactive that discovery hole 26-LODH-023 returned mineralisation across the full 663-metre hole at 0.41 grams per tonne gold equivalent. The result included 0.16 grams per tonne gold, 0.65% zinc and 4.53 grams per tonne silver from surface to end of hole.
Purcell said the first result from the six-hole program represented a strong start for NewPeak Metals. “We’ve put out our first hole of six holes this morning, and it’s showing 663m, the entire hole from surface at 0.41g gold equivalent,” he said.
He also pointed to a 282-metre interval from seven metres at 0.65 grams per tonne gold equivalent, describing the broader result as a “fantastic start” while the company awaited assays from the remaining five holes.
The key near-term catalyst for NewPeak Metals is the release of those outstanding assays, which Purcell said should be announced over the next three to six weeks. These results are expected to help the company assess the broader potential of the Las Opeñas system and inform the next stage of work.
Purcell said NewPeak Metals had been targeting a gold-dominant bulk-tonnage opportunity, while the presence of silver and zinc as potential by-products added further interest. He said the US viewed supply chains for both silver and zinc as vulnerable to its supply needs, making their presence in the system notable.
Looking ahead, Purcell said the company hoped to move toward declaring a resource at Las Opeñas as soon as possible, subject to the remaining assays. “We would love to get out there and declare a resource as soon as possible on Las Opeñas,” he said.
With five additional holes still to be reported, the coming weeks could provide important evidence on the scale and continuity of mineralisation at Las Opeñas following the discovery hole.
Interview highlights
- NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF) confirmed a large-scale gold-zinc-silver discovery from the first hole of its 2026 drilling program at the 100%-owned Las Opeñas Gold Project in San Juan Province, Argentina.
- Discovery hole 26-LODH-023 returned mineralisation across the full 663-metre hole at 0.41 grams per tonne gold equivalent.
- The full-hole result included 0.16 grams per tonne gold, 0.65% zinc and 4.53 grams per tonne silver from surface to end of hole.
- Shares in NewPeak Metals surged as high as A$0.031 in morning trade, representing an intraday gain of about 107% from the previous close of A$0.015.
- Managing director Mark Purcell described the result as a “fantastic start”.
- Purcell said NewPeak Metals had been targeting a gold-dominant bulk-tonnage opportunity.
- Silver and zinc were highlighted as potential by-products, with Purcell noting their relevance to US critical mineral supply chains.
- Assays from the remaining five holes are expected in the next three to six weeks.
- Purcell said NewPeak Metals would like to move toward declaring a resource at Las Opeñas as soon as possible, depending on the remaining assays.
Proactive: NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF) has delivered assay results from the first drill hole of its 2026 drill program at the 100%-owned Las Opeñas Gold Project. Here to discuss the results is managing director Mark Purcell. Mark, good to see you again.
Mark Purcell: Jonathan, great to be here.
Proactive: Good to have you. So let’s talk about these results. Talk us through the results and the scale of that intercept.
Mark Purcell: Absolutely. So we’ve put out our first hole of six holes this morning, and it’s showing 663 metres, the entire hole from surface, at 0.41 grams per tonne gold equivalent. Even within that, there’s a 282-metre interval from only seven metres at 0.65 grams per tonne gold equivalent. So fantastic start for us and crossing our fingers for the remaining five holes.
Proactive: Well, that’s the thing. It’s a great start, but there are more assays pending. What do you hope to see through those?
Mark Purcell: Similarly, we were always targeting a bulk-tonnage target, gold dominant. But to have silver and zinc sitting there as potential by-products as well is just fantastic.
Proactive: So let’s talk about silver and zinc. It’s on the US critical minerals list. Why are these metals so important?
Mark Purcell: I think for both of them, the US sees the supply chain as being particularly vulnerable to its supply needs. And for us to have those two sitting there as a by-product is fantastic.
Proactive: And being on that list, surely there’s support out there as well. We’ve got more assays coming, but what can we see next for the company over the next couple of months?
Mark Purcell: So we’ve got the assays remaining. They should be announced in the next three to six weeks. We’re also going to, depending on the assays, push forward with the resource. So we would love to get that done quickly if we can. And beyond that, grow the company for other opportunities and take it forward.
Proactive: Mark, plenty to look forward to. Thanks for your time this morning and we’ll speak again shortly.
Mark Purcell: Thanks, Jonathan. Appreciate it.
Proactive: Mark, assays to come, we know that, but what else can we expect over the next couple of months?
Mark Purcell: For the next three to six weeks, as you mentioned, the remaining five-hole assays will come. I think one of the biggest things we’re looking forward to is pinning those assay results. We would love to get out there and declare a resource as soon as possible on Las Opeñas.
Proactive: So plenty to look forward to in Argentina and for NewPeak Metals on the whole. Mark, we look forward to speaking with you again and thanks for your time this morning.
Mark Purcell: Likewise. Thanks, Jonathan. Cheers.